Jammu and Kashmir employees insurance scheme to be renewed from Dec 1

Jammu: The Governor's administration Thursday ordered renewal of the group personal accidental insurance policy commencing from midnight of December 1, 2018 in Jammu and Kashmir, officials said.

It will continue till midnight November 30, 2019, as per the agreement already executed between the government of Jammu and Kashmir and Oriental insurance company Ltd, they added.

According to the Principal Secretary Finance, Navin K Choudhary, the policy shall cover an aggregate of more than 3.50 lakh employees including the employees of PSUs, autonomous bodies, local bodies, universities, daily rated workers, Consolidated, contractual, contingent paid workers, ad hoc workers and SPOs.

The sum assured under this policy shall be Rs 10 lakh per employee against payment of a yearly premium of Rs 360 inclusive of GST, he said.

Watch this Zee Business video here:

He said all the Drawing and Disbursing Officers (DDOs) shall deduct Rs 360 from all categories of employees to be covered under the scheme from the salaries of November 2018 on compulsory basis.